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CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Millions
Total
Preferred Stock and Additional Paid-in Capital
Common Stock
Additional Paid-In Capital
Treasury Shares
Retained Earnings (Accumulated deficit)
Accumulated Other Comprehensive Income (Loss), net of taxes
Beginning Balance at Dec. 31, 2021 $ 1,735.2 $ 144.0 $ 46.2 $ 1,386.4 $ (455.1) $ 636.4 $ (22.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (175.2)         (175.2)  
Other comprehensive income (loss) - change in fair value of fixed maturities, net of taxes (312.8)           (312.8)
Other comprehensive income (loss), net - other 30.4           30.4
Activity under stock incentive plans 9.6   0.2 9.4      
Retirement of common stock (tax payments on equity compensation) (2.2)   (0.1) (2.1)      
Employee stock purchase plan 1.8   0.1 1.7      
Dividends on preferred stock (10.5)         (10.5)  
Cash dividend declared - common stock (43.4)         (43.4)  
Ending Balance at Dec. 31, 2022 1,232.9 144.0 46.4 1,395.4 (455.1) 407.3 (305.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (210.4)         (210.4)  
Other comprehensive income (loss) - change in fair value of fixed maturities, net of taxes 35.8           35.8
Other comprehensive income (loss), net - other 1.8           1.8
Activity under stock incentive plans (0.6)   0.1 (0.7)      
Retirement of common stock (tax payments on equity compensation) (0.9)     (0.9)      
Employee stock purchase plan 1.5     1.5      
Dividends on preferred stock (10.5)         (10.5)  
Cash dividend declared - common stock 0.3         0.3  
Ending Balance at Nov. 15, 2023 1,049.9 144.0 46.5 1,395.3 (455.1) 186.7 (267.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 0.9            
Ending Balance at Dec. 31, 2023 1,297.5 137.1 1,056.6 51.1 0.0 0.9 51.8
Beginning Balance at Nov. 16, 2023 1,244.8 137.1 1,056.6 51.1 0.0 0.0 0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 0.9         0.9  
Other comprehensive income (loss) - change in fair value of fixed maturities, net of taxes 51.1           51.1
Other comprehensive income (loss), net - other 0.7           0.7
Ending Balance at Dec. 31, 2023 1,297.5 137.1 1,056.6 51.1 0.0 0.9 51.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (148.1)         (148.1)  
Other comprehensive income (loss) - change in fair value of fixed maturities, net of taxes (19.9)           (19.9)
Other comprehensive income (loss), net - other (0.2)           (0.2)
Purchase accounting adjustments [1] (15.3)     (15.3)      
Changes in common stock due to merger with AGIH Merger Sub, Inc. [2] 0.0   (1,256.6) 1,256.6      
Dividends on preferred stock (10.5)         (10.5)  
Capital contributions 500.0   200.0 300.0      
Ending Balance at Dec. 31, 2024 $ 1,603.5 $ 137.1 $ 0.0 $ 1,592.4 $ 0.0 $ (157.7) $ 31.7
[1]
(1) Impact of measurement period adjustment on bargain purchase in connection with the Merger. Refer to Note 2, “Recent Acquisitions, Disposals & Other Transactions” for additional information.
[2]
(2) Refer to the Merger with AGIH Merger Sub, Inc. in Note 2, “Recent Acquisitions, Disposals & Other Transactions” for additional information.